Cryptocurrencies Continue to Outperform the Stock Market: Canaccord

  • 📰 CoinDesk
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

Will Canny is a finance reporter at CoinDesk.n

Canaccord said bitcoin's dominance should decline given the lesser need for an inflation hedge, but it still performs like other risk assets for now.

The broker noted that the world's largest cryptocurrency finished the last quarter up around 140% year-on-year , outperforming etherIf bitcoin follows historical patterns it tends to rally 6-12 months following the "We think the most healthy reaction for crypto's long-term future in a scenario like this would be a decline in BTC," the report said, given the lesser need for an inflation hedge, and a rise in ether and other digital assets alongside risk equities, as"investors become more willing to underwrite longer-term growth and innovation."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 291. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

SiriusXM Stock Closes 2.55% Higher After Merger With Liberty Media Tracking StockThe merger and reverse stock split simplified the audio entertainment giant's financial structure, executives said
Source: billboard - 🏆 112. / 63 Read more »